I have seen recent media reportage relating to a report commissioned by the UK Office of Fair Trading into market power and consolidation in British food retailing. The media reportage referred to the UK. While concerns stopping short of profiteering were reported, the indications were that the OFT regard the report as unofficial and representing an input into their further investigation into whether such retailers were abusing their market power. I have received no reports of profiteering by British retail multiples in Ireland. If complaints in this area were made, I would of course be concerned.
The law dealing with regulation of competition is different in Ireland. The Competition Act, 1991, specifically prohibits anti-competitive practices, including price fixing and the abuse of a dominant position. Under the Act, any person aggrieved in consequence of anti-competitive activity has a right of action in the courts for relief, by way of injunction or declaration and damages, including exemplary damages.